Red Sox, Cubs hope to settle Theo Epstein compensation next week

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The Red Sox and Cubs were granted an extension last week to work out the lingering issue of compensation over Theo Epstein. However, since both sides are pretty busy interviewing managerial candidates and expressing interest to free agents, little progress has been made in recent days.

Red Sox general manager Ben Cherington hopes to change that real soon. He told Evan Drellich of MLB.com yesterday that he and Epstein are optimistic they can work out an agreement in person at the general manager meetings next week in Milwaukee.

“Theo and I have spoken a couple of times since I talked to you guys last,” Cherington said Wednesday at Fenway Park, a week after his last huddle with the media. “We traded some ideas and don’t have anything to report yet, but there’s at least been a couple more conversations.”

“The Commissioner’s Office is giving us some leeway on it if we feel like there’s progress being made,” Cherington said. “I think we’ll give ourselves until next week. We’ll see each other in person next week, at least give ourselves until then to see if there’s something we can’t figure out.”

This sounds like a broken record already, but if the two sides can’t reach an agreement by the end of next week, commissioner Bud Selig would likely step in as an arbitrator. I fully expect to do one post on this topic each week until the end of time.